Monthly Payment on a $150,000 Loan at 8% APR for 12 Months
A $150,000 loan at 8% APR repaid over 12 months has a monthly payment of $13,048.26. Over the full 12 months (1 year) term you'd pay $6,579.17 in total interest, bringing the total cost of the loan to $156,579.17. A 8% APR is typical for borrowers with very good credit (720+). Adjust the figures in the calculator below to see how a different rate, amount, or term changes your payment.
Monthly Payment
$13,048.26
at 8% APR
Total Interest
$6,579.17
over 12 months
Total Cost
$156,579.17
principal + interest
Loan Summary
$150,000 · 8% APR · 12 months
| Loan amount | $150,000 |
| Interest rate (APR) | 8% |
| Term | 12 months (1 year) |
| Monthly payment | $13,048.26 |
| Total interest paid | $6,579.17 |
| Total cost of loan | $156,579.17 |
Loan Calculator
Monthly Payment
$13,048.26
Total Paid
$156,579.17
Total Interest
$6,579.17
$150,000 at 8% APR · 12-Month Loan FAQs
What is the monthly payment on a $150,000 loan at 8% APR for 12 months?
The monthly payment on a $150,000 loan at 8% APR over 12 months is $13,048.26. This is calculated with the standard amortization formula and assumes equal fixed payments for the full term.
How much total interest will I pay on this $150,000 loan?
At 8% APR over 12 months, you'll pay $6,579.17 in total interest on a $150,000 loan. Combined with the $150,000 you borrowed, the total amount repaid is $156,579.17.
Is 8% a good APR for a personal loan?
A 8% APR is generally available to borrowers with very good credit (720+). This is among the lower rates lenders offer and reflects strong creditworthiness.
Same Loan at a Different APR
Explore This Loan Further
Related tools:
Loan Calculator Debt Payoff Calculator Compound Interest Calculator